# Morocco's OCP Group saw a 49% profit dip in 2023 due to dropp ...

> Morocco's OCP Group reported a 49% drop in 2023 profit to 14.29 billion dirhams, driven by a 20% fall in revenue from lower phosphate selling prices compared with the exceptional 2022 levels. Lower Chinese phosphate exports were partly offset by stronger demand in the US, Brazil and India.

- Date: 2024-04-02 · published 2024-04-02T12:00:00.000Z
- Category: market · region Morocco · magnitude low
- Page: https://feedsoft.ai/events/31070-morocco-s-ocp-group-saw-a-49-profit-dip-in-2023-due-to-dropp
- Commodities: [DAP](https://feedsoft.ai/c/DAP.md), [Phosphate Rock](https://feedsoft.ai/c/PHOSROCK.md)

## Why it matters

The earnings decline reflects the retreat of phosphate prices from 2022 highs, which supports lower fertilizer costs for farmers, though it is a backward-looking financial result with limited new price impact.

## Read by commodity

- DAP: neutral
- PHOSROCK: neutral

## Sources

- millingmea.com: https://millingmea.com/moroccos-ocp-group-saw-a-49-profit-dip-in-2023-due-to-dropping-revenues-and-rising-expenses/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.